Brazil’s state-controlled oil company Petróleo Brasileiro SA said Friday it signed a $5 billion financing deal with the China Development Bank, the latest example of a troubled Latin American issuer Continue Reading
Venezuela’s highest denomination banknote has ceased to be legal tender, in a move that has caused cash chaos and long queues at banks this week. Some cash machines on Thursday Continue Reading
U.S. refiners such as Valero Energy Corp and Marathon Petroleum Corp are bracing for stricter, smog-busting gasoline regulations set to hit in January, threatening more headwinds for an industry that Continue Reading
Donald Trump’s choice of Rick Perry to head the U.S. Department of Energy may accelerate the inevitable clash between the president-elect and Washington’s bureaucrats. It would be a mistake for Continue Reading
U.S. refiners are likely to see stronger demand for middle distillates such as heating oil and diesel in 2017 after two years of declining domestic consumption. Distillate consumption is forecast Continue Reading
U.S. energy companies this week added oil rigs for a seventh week in a row, extending a seven-month drilling recovery as crude prices held near a 17-month high. Drillers added Continue Reading
After campaigning as a strong supporter of the use of ethanol and other biofuels in the nation’s gasoline supply, President-elect Donald Trump has chosen a forceful adversary of those federal Continue Reading
The number of rigs drilling for oil in the U.S. rose by 12 in the past week to a total of 510, according to oil-field services company Baker Hughes Inc. Continue Reading
U.S. dry natural gas production continued to increase in 2015, reaching 74.1 billion cubic feet per day (Bcf/d). This record-high level was a 4.5% (3.2 Bcf/d) increase over 2014, according Continue Reading
U.S. Crude Oil and Natural Gas Proved Reserves U.S. crude oil proved reserves declined 4.7 billion barrels (11.8%) from their year-end 2014 levels to 35.2 billion barrels at year-end 2015, Continue Reading
A Japanese energy company said it was exploring the options to work alongside one of Russia’s larger gas players on liquefied natural gas options. Japanese company Marubeni Corp. said it Continue Reading
MOSCOW, Dec. 16 (UPI) — A handful of Russian oil companies are expected to form a working group to monitor coordination with production agreements, the Russian oil minister said. Russian Continue Reading
The threat of the world facing a declining supply of oil, so-called peak oil, has given way to a forecast that is calling forth its much more benign cousin: peak Continue Reading
Oil headed for a weekly loss as Libya prepared to raise supply and the dollar strengthened, offsetting the impact on prices from an agreement by OPEC and other producers to Continue Reading
Oil prices rose on Friday after Kuwait appeared to be lining up bigger supply cuts than had been initially expected from January as part of a coordinated effort by oil Continue Reading
Crude prices fell Thursday for the second day in a row Thursday as the dollar surged, raising concerns about demand for oil outside the U.S. U.S. crude futures for January Continue Reading
The first half. No, the second. Certainly this year. Or next. That’s the range of views you’ll hear if you ask the International Energy Agency, OPEC, Saudi Arabia and the Continue Reading
OPEC’s first supply cut deal in eight years came as good news for a Swiss family business founded by an economics analyst who once helped the then Rhodesian government procure Continue Reading
Even if OPEC complies with its production cut targets, depending on natural crude production declines in non-OPEC countries won’t remove enough crude inventory to reset the market, analysts say. Although Continue Reading
Investors remain cautious on spending after a two-year slump OPEC’s deal to cut production and boost prices gives oil companies the opportunity to shake off two years of layoffs and Continue Reading
Libya is preparing this week to reopen two of its biggest oil fields and ship the first cargo from its largest export terminal in two years, as the war-torn OPEC Continue Reading
A two-year battle for global oil supremacy that pit Saudi Arabia, head of the powerful oil cartel, against upstart U.S. shale producers left them both badly wounded but with each Continue Reading
The KRG’s fight against ISIS has been hampered by the low oil price environment. The low oil price environment has put a strain on the Kurdistan Regional Government’s (KRG) fight Continue Reading
Iraq is selling more crude oil to its biggest customer, China’s Unipec, people familiar with the matter say, digging a deeper foothold in the global supply market just before production Continue Reading
Gulf Arab central banks wasted little time in following the Federal Reserve’s interest-rate increase, maintaining a commitment to the U.S. dollar peg even as their economies struggle with low oil Continue Reading
Saudi Arabia surprised the world by helping to engineer an unexpectedly strong agreement from OPEC members to cut production by 1.2 million barrels per day, followed by additional cuts from Continue Reading
Nigeria is producing around 1.8 million barrels of oil daily, up from an average 1.63 million bpd in the third quarter of the year. The current rate of production is Continue Reading
Long queues continued to form outside banks across the Venezuelan capital Caracas on the day President Nicolás Maduro was set to do away with smaller denomination bank notes, amid mounting Continue Reading
Beijing will not issue fuel export quotas for independent refineries next year, dealing a blow to the upstart group of companies and scrapping a key component of a scheme that Continue Reading
Rail tracks shrouded in smog in New Delhi. Sandeep Singh Parmar embodies in one man the conundrum facing the most-polluted region in the world. Parmar, 35, who lives in New Continue Reading
India’s demand for oil products in November rose 12% year on year to 16.6 million mt, or 4.35 million b/d, latest provisional data from the Petroleum Planning and Analysis Cell Continue Reading
Chinese authorities halted trading in key bond futures for the first time on Thursday, as panicky investors sold the securities on concern that a long, credit-fueled bull market was coming Continue Reading
Beijing and its neighboring Tianjin Municipality have both issued their first red alerts for air pollution this year with heavy smog forecast in northern China Friday, local environmental protection authorities Continue Reading
A little-known clean-tech agency born of bipartisanship a decade ago will now come under the hot (but sustainable) lights. Few things divide Barack Obama and Donald Trump as cleanly as Continue Reading
America’s shale gas drillers are back to looking for the next big play. On Wednesday, Gulfport Energy Corp. struck a deal to buy acreage in an oil and natural gas Continue Reading
Darren Woods’ appointment as the new chief executive of ExxonMobil was one of the most predictable events of 2016, telegraphed when he was appointed the company’s president a year ago. Continue Reading
Donald Trump is not without a sense of irony, as witness his choice of Rick Perry to run the Energy Department, which the former Texas Governor couldn’t even recall in Continue Reading
Chesapeake Energy is drilling a massive well in the Haynesville shale outside Shreveport, La., Doug Lawler watched a drilling rig’s high-pressure pumps rumble as workers bored in to a massive Continue Reading
Officials in two dozen states are asking President-elect Donald Trump to issue an executive order on his first day in office declaring as illegal President Barack Obama’s plan to curb Continue Reading
A year after Congress extended generous tax credits for renewable energy projects, the U.S. wind industry is thriving. Solar power companies, meanwhile, are hunkering down for a rough 2017. The Continue Reading
The U.S. Department of Energy has become a lightning rod for criticism in parts of the Republican Party and the fossil fuels industry unhappy about the Obama administration’s energy and Continue Reading
All Russian oil companies, including champion producer Rosneft, have agreed to cut crude output under Moscow’s agreements with OPEC, Russian Energy Minister Alexander Novak said on Friday. Asked if Rosneft Continue Reading
In a sensational report last week, Russia announced a block-buster deal, the long planned privatization sale of nearly 20 percent of government held shares in the oil giant Rosneft, to Continue Reading
Scroll through Donald Trump’s campaign promises or listen to his speeches and you could easily conclude that his energy policy consists of little more than a wish list drawn up Continue Reading
As I glance back across the trajectory of this blog over the last ten and a half years, one change stands out. When I began blogging in May of 2006, Continue Reading
Oil prices pulled back on Wednesday, weighed down by rising interest rates and concerns over the ability of major players to cut production. Light, sweet crude for January delivery settled Continue Reading
Even as oil has rallied on OPEC’s agreement to cut supply, slowing demand could bring the price back down again. After years of healthy growth fueled by low prices and Continue Reading
OPEC pointed on Wednesday to a growing oil supply surplus next year unless members implement their deal to curb output from record levels and outside producers also deliver on cutback Continue Reading
Libya is preparing this week to reopen two of its biggest oil fields and ship the first cargo from its largest export terminal in two years, as the war-torn OPEC Continue Reading
Gulf Arab nations that rely on energy for most of their revenue will benefit if oil prices rise, though their long-term fiscal health hinges on how well they use this Continue Reading
